KARACHI - After witnessing two bearish sessions, Pakistan Stock Exchange staged rebound on Thursday. The benchmark 100-share index rose by 41.54 points (up 0.11%) to close at 36,540.97 points.

Volatility prevailed in yesterday’s session as the index made an intra-day high of 184 points and a low of 37 points, dealers said. EFOODS (up 4.08%) and ENGRO (1.54%) were the major index movers. On the other hand, the banking sector remained under pressure on the back of SBP’s cut in policy rate to 5.75% to boost growth. Top laggards of the aforementioned sector were MCB (down 0.9%) and HBL (0.5%). Similarly global crude oil prices, which reached a six-month high, failed to entice investors as profit taking was witnessed across the oil sector. Major laggards of the sector were MARI (down 0.5%) and BYCO (3.13%), observed analyst Ahmed Saeed Khan.

Volume decreased 21% to 212m shares compared to 269m shares of the previous day, while traded value was up by 7% to Rs9.7b ($93m).

Trading activity remained lackluster during the day due to absence of any major trigger, said dealers at Topline brokerage. Cement sector remained under pressure on likely increase in Federal Excise Duty (FED) in upcoming budget. Major scrips like Lucky Cement (LUCK), Maple Leaf Cement (MLCF) and Fauji Cement (FCCL) were down 0.5-2%. KEL continued to be the volume leader with total traded volume of 27.8m shares.